ASTANA, Kazakhstan, February 20. Kazakhstan's Kazatomprom and Axpo Power AG signed their first contract for uranium supply to Switzerland's nuclear power plants, Trend reports via Kazatomprom.
Kazakhstan National Atomic Company "Kazatomprom" and Swiss company Axpo Power AG, together with Kernkraftwerk Leibstadt AG (KKL AG), have signed the first contract for the supply of Kazakh natural uranium concentrates for the Beznau and Leibstadt nuclear power plants in Switzerland.
The signing ceremony took place at the headquarters of Axpo Power AG during a visit by Kazatomprom's delegation to Switzerland.
"We are proud that the first commercial contract between Kazatomprom and Axpo opens the way for important cooperation between our companies. Expanding the geography of sales highlights Kazatomprom’s recognition as a reliable uranium supplier on the global market. This contract is an important step in our strategy to diversify sales channels. It also plays a key role in ensuring energy security and decarbonization, which will strengthen our partnership and ensure long-term supplies of natural uranium for Switzerland’s nuclear energy sector," said Vladislav Baiguzhin, Chief Commercial Officer of Kazatomprom.
In turn, Bruno Zimmerman, Head of Nuclear Fuel at Axpo Power AG, noted that signing the contract with Kazatomprom, the world’s largest uranium producer, is of strategic importance for Axpo and KKL AG as they continue to diversify and secure their fuel supplies.
"Nuclear energy is a key element of our country’s low-carbon energy strategy, so reliable fuel supplies are extremely important. Including Kazatomprom among our suppliers strengthens our ability to provide stable energy supply for Switzerland and contribute to global decarbonization efforts," said Zimmerman.
The deal with Switzerland’s biggest energy player turns a new page in Kazatomprom's partnership with nuclear power plant operators across Europe and bolsters its standing in the worldwide uranium arena.
To note, in 2024, uranium production in Kazakhstan increased by 10 percent to 23,270 tons. Kazatomprom has confirmed its production plans for 2025, with Kazakhstan aiming to produce 25,000–26,500 tons of uranium.
Kazatomprom JSC serves as the national operator of the Republic of Kazakhstan for the import and export of uranium, rare metals, and nuclear fuel for nuclear power facilities. Since 2009, Kazakhstan has held the position of global leader in natural uranium extraction, with Kazatomprom possessing preferential rights to the nation's vast reserves. The assets of the national atomic firm encompass the complete array of Kazakh enterprises engaged in the front-end of the nuclear fuel cycle, including geological exploration, uranium extraction, nuclear fuel manufacturing, scientific research, and the development of proprietary technologies.